Naturo Indiabull Ltd's Rs. 10.92 crore public issue on BSE SME platform opens for subscription on August 22

Ahmedabad: Public issue of Jaipur-based, Naturo Indiabull Ltd - an emerging company in the FMCG industry opens for subscription on August 22. The company received approval to launch its public issue on BSE SME Exchange Platform. The company is planning to raise Rs. 10.92 crores through initial public offering to fund its expansion plans, working capital requirements and general corporate purposes. Finshore Management Services Ltd is the lead manager of the issue. The public issue will close on August 24.

The initial public offering will comprise a fresh issue of 36.4 lakh equity shares of face value of Rs. 10 each at a price of Rs. 30 per share (including a premium of Rs. 20 per equity share) aggregating upto Rs. 10.92 crores. The minimum lot size for the application is 4,000 shares which translate into Rs. 1.2 lakh per application. Retail allocation for the IPO is 50% - 17.28 lakh shares totaling Rs. 5.18 crore.

Incorporated in 2016, Naturo Indiabull Ltd is an emerging company in the business of Fast Moving Consumer Goods. Company was founded by Mr. Gaurav Jain and Ms. Jyoti Choudhary. The company is in the business of trading various health products and kits including Sanitary Towels, Sanitary Napkins, hand sanitizer, and other health kits etc.

Commenting on the development, Mr. Gautam Jain, Founder, and Managing Director, Naturo Indiabull Ltd said, " As part of company's growth strategy, it will aim for deeper penetration in Rajasthan market and also expand to other regions. Company is also diversifying its products to various health and herbal products like juices, soaps, shampoos, medicines, tablets, etc. under the name and style of Naturo Indiabull Limited. The Company has started distribution of Samples. We are hopeful that after the proposed public issue, we will be able to execute our growth strategy in a manner that creates exponential value for all stakeholders while consistently delivering quality products."

In the year 2018, company diversified its business and entered into business of selling various health and herbal products including juices, soaps, shampoos, medicines, tablets, etc. For the FY21-22 company reported revenues of Rs. 11.45 crore, EBITDA of Rs. 1.50 crore, and Net Profit of Rs. 1.09 crore. Promoter group holding in the company is currently at 42.17%.

Post-issue the promoter group holding in the company will be 27.12%. Shares of the company will be listed on BSE SME platform. The post-issue share capital of the company will increase to Rs. 10.19 crore comprising 1.01 crore shares of Rs. 10 face value. Net Worth and Reserves of the company post issue will stand at Rs. 22.98 crore and Rs. 12.78 crores respectively. Book value per share as on 31 March 2022 is Rs. 19.30 per share.